Liverpool

Subdued activity in the Liverpool market has continued into Q3, with take-up amounting to approximately 10,000 sq ft in the city centre and 15,000 sq ft in the out-of-town market.

There has been a handful of small lettings in the sub 2,500 sq ft category, whilst the majority of medium to large size occupiers are continuing to undertake strategic reviews of their occupational requirements, resulting in them either looking to downsize or putting these requirements on hold for the foreseeable future.

We would also anticipate that due to occupiers looking to reduce their overall occupational footprint that there will be large amounts of “grey space” returning to the market over the next 6 to 12 months.

There continues to be a huge amount of uncertainty in the occupational market which has resulted in a significant reduction in both demand and transactional activity. This is unlikely to change this year and may well extend into the early part of next year.

The out-of-town market which performed relatively well during Q2 has also seen a significant reduction in demand during Q3 with a large proportion of occupiers either putting their requirements on hold or looking to dispose of existing space.

TAKE UP Q3

City Centre

10,000 sq ft

Out of Town

15,000 sq ft

HEADLINE RENT

City Centre

£22 per sq ft

Out of Town

£14 per sq ft

UNDER CONSTRUCTION

Total

160,000 sq ft

Prelet

44%

PRIME YIELD

Q3 2020

6%

TOP RECENT DEALS

KEY SECTOR ACTIVITY FOR Q1-3 2020

Legal services

32%

Banks & building societies

30%

Central government

21%


TAKE-UP

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